INTERACT CLIMATE CHANGE FACILITY SA
Status: Approved investmentWhy disclosure?
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In case of questions
In case of questions, please contact us at disclosure@fmo.nl
Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
Interact Climate Change Facility (ICCF) was established in 2011 by the European Development Financial Institutions (EDFIs), Agence Française de Développement (AFD) and the European Investment Bank (EIB) to finance renewable energy and energy efficiency projects in the private sector in developing countries and emerging markets. ICCF is a syndications vehicle through which FMO participates in senior and mezzanine loans as well as guarantee instruments to finance green projects.
What is our funding objective?
In addition to the initial EUR 40mln commitment in ICCF-II, FMO invests further EUR 20mln. The funds are used to finance climate friendly investments by the private sector in its target countries. The aim is to support a low carbon sustainable economic development. The main focus of ICCF is the avoidance or reduction of Greenhouse Gas (GHG) emissions, and only eligible projects can be financed based on the investment criteria.
Why do we fund this investment?
ICCF provides scarce medium-to-longer term financing, which is generally not available from commercial parties. It fits well with FMO’s strategy, as it contributes to positive development impact by financing projects in developing countries and emerging markets that avoid or reduce GHG emissions. Furthermore, it is an efficient vehicle to attract long-term funding for green projects and strengthens the cooperation and knowledge sharing among the EDFIs, AFD and EIB.
What is the Environmental and Social categorization rationale?
This concerns an E&S A categorized investment, as the projects of ICCF come with potential adverse environmental or social impacts and the majority of those projects have A or B+ rating. E&S characteristics of the underlying investments can include land acquisition and possible resettlement, as well as biodiversity impacts, together with health, safety and security issues during construction. Robust E&S assessment and monitoring is undertaken at the project level by the promoting EDFI member, while ICCF is informed on at least an annual basis.
More investments
| Date | Total FMO financing |
|---|---|
| 7/31/2015 | EUR 3.88 MLN |
| 2/16/2015 | EUR 3.18 MLN |
| 3/24/2014 | EUR 4.70 MLN |
| 2/11/2014 | EUR 1.42 MLN |
- Country
- Global
- Sector
- Energy
- Effective date
- 4/19/2021
- Total FMO financing
- EUR 60.00 MLN
- Funding
- FMO NV
-
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - A